Learn how to send money to Lithuania with an international money transfer service.
The West African nation of Liberia is the continent’s first and oldest republic. The country is known for its rare wildlife and its civil wars of the 1990s, with a significant portion of the country’s population living below the international poverty line.
If you want to send money from the UK to a friend or loved one in Liberia, make sure that you shop around to find a secure and affordable transfer option. If you don’t compare your transfer options before you send your funds, your transaction could end up costing a whole lot more than it needs to.
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Banks versus money transfer companies
Unfortunately, most UK banks don’t offer international money transfers to Liberia, in part due to political instability in the country in previous years and also due to Liberia’s association with the blood diamond trade – check with your bank for a list of approved transfer destinations. In any case, banks don’t offer a very affordable option when you need to send money overseas, as you’ll need to contend with their poor exchange rates and high transfer fees.
A much more affordable money transfer option is available from specialist money transfer companies. These providers, which usually offer fast online transfers, have far superior exchange rates to those offered by banks and also tend to charge lower fees. However, you’ll need to shop around to see which companies will allow you to send money from the UK to Liberia.
Case Study: Tony sends money to Liberia
Tony wants to send money to his sister Janine, who is completing a schedule of volunteer work in Liberia but has unexpectedly spent all her money. His bank doesn’t offer transfers to Liberia, so Tony seeks out two cash pickup transfer companies to see which one offers the best deal when transferring £1,000 from the UK to Liberia.
As you can see from the table below, Tony can send an extra 423.50 LRD using the first company. The first company also charges fewer fees, meaning this is the best option for Tony.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||£1 = 113.945 LRD||£1 = 113.098 LRD|
|Transfer method||Cash pickup transfer||Cash pickup transfer|
|Processing time||10 minutes||10 minutes|
|Amount received (LRD)||56,972.50 LRD||56,549.00 LRD|
How do I compare transfer companies when transferring and receiving money via Liberia?
- Exchange rates. Even a minor difference in exchange rates can make a huge difference to the amount your beneficiary receives, so look for the company that consistently offers top-notch exchange rates.
- Transfer time. Transfer times can range from a few minutes to several working days, so make sure your company can complete transfers within a suitable time frame for your needs.
- Minimum transfer amounts. Are there limits on the minimum and maximum amount you can transfer? If so, will those limits inconvenience you?
- Pickup options. Does the company offer bank account transfers, cash pickup transfers or mobile airtime transfers?
- Customer service. Make sure that you will be able to easily access customer assistance if you ever experience a problem with a transaction.
How do I send money to Liberia from the UK?
- Specialist money transfer providers. Start researching today to check whether any specialist transfer companies offer transfers to Liberia. WorldRemit is one company that offers mobile airtime transfers.
- Cash pickup transfer companies. Western Union and MoneyGram both offer this service.
- Bank transfers. Check with your bank to see whether it offers international transfers to Liberia.
- International cheques. Another transfer option is to obtain an international cheque from your bank and then post it to your recipient.
How do I receive money from Liberia in the UK?
- Specialist money transfer providers. Compare a range of options to see which providers offer affordable transfers from Liberia to the UK.
- Cash pickup transfer companies. Your choice of cash pickup transfer provider will be influenced by which company has a pickup location close to you.
- Bank transfers. Another option you may like to explore is a bank transfer from Liberia to the UK.
- International cheques. Ask your bank about all the fees and charges associated with international cheques.
Emergency cash transfers in Liberia
Companies such as Western Union and MoneyGram can help you send urgent cash transfers from the UK to Liberia in as little as 10 minutes. Just be aware of the fact, however, that emergency transfers come at a higher premium than ordinary transactions. Poor exchange rates and high transaction fees are the norm, so it’s important to review the cost of your transaction before agreeing to it.
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Tips for picking up cash in Liberia
The World Health Organisation declared Liberia to be Ebola transmission free in June 2016 – this is no longer considered a threat. However, there is an underlying threat from terrorism. Attacks could be indiscriminate, including in places visited by foreigners. There may be heightened security at hotels in Liberia, following the terrorist attacks on hotels in Bamako, Mali on 20 November 2015, and Ouagadougou, Burkina Fason on 15 January 2016 and in Grand Bassam, Côte d’Ivoire on 13 March 2016. You should be vigilant after recent attacks, especially in places visited by foreigners.Back to top
What are the steps to send money to Liberia?
You will usually need to complete the following steps when you want to send money to Liberia:
- Sign up for an account. Most providers make it possible to sign up for a free account online, but in some cases you may have to visit a branch.
- Provide your transaction information. The next step is to provide details about where you are sending the money, how much money you are sending and in what currency.
- Review and pay. Finally, it’s time to check over the exchange rate and fee that apply to the transfer and then pay for your transaction. Most companies offer online tracking services and email/SMS notifications so you know when your transfer is complete.